Moody’s said Thai banks are strong with 152.2% reserves, helps cushioning potential rise in NPLs.
Finance Ministry will pump additional money into the economy system in 4Q to further improve the flagging economy amid the prolonged pandemic, said director-general of the Fiscal Policy Office (FPO).
Office of Insurance Commission (OIC) has rejected speculation regarding the alleged closure of a non-life insurance co, saying Asia Insurance 1950 Plc’s recent mass layoffs were to cut expenses and reserve its capital for the payment of claims.
KEEP ’EM coming: Claims for Covid-19 insurance keep piling in, reaching 9.4 billion baht as of August, but the regulator says insurers remain stable. Total claims for Covid-19 insurance ballooned to 9.43 billion baht at the end of August and are expected to continue rising as the daily infection rate remains high, says the Office of the Insurance Commission (OIC). Bangkok Post
Govt to raise debt ceiling: More borrowing to rehabilitate economy. The government has decided to raise the ceiling of the public debt-to-GDP ratio from 60% to 70% which will allow further borrowing to rehabilitate the economy battered by Covid-19. Bangkok Post
The main Covid task force will meet on September 27 to discuss further reopening of more business, including bars and cinemas, and opening of more regions to vaccinated international tourists, after new cases slumped for a 5th week, with daily cases/100K dropped to 15.2 on Tuesday, lowest in >2 months.
Domestic tourism stimulus phase 3 (We travel together) with up to 40% govt subsidy, opens for sign up from Sept 24, total 2m rooms available, booking starts from October 8, travel period from Oct 15 till end of January 22.
Disease law set for change: Cabinet gives nod for Act amendments. The cabinet has approved a draft amendment to the 2015 Communicable Disease Act, seen as a new mechanism to replace the emergency decree in the country’s ongoing battle against Covid-19. Bangkok Post
August exports expected to expand at a slower rate: Exports should continue to maintain their growth momentum in August, albeit at a slower pace than the previous month, when they surged by 20.2% year-on-year from July of last year. Bangkok Post
The National Cybersecurity Agency (NCSA) has confirmed the personal data of 106m international travellers to Thailand was exposed online last month, but was quickly secured by authorities, with no sale of the data on underground websites.